Polaris (NYSE:PII) Price Target Lowered to $92.00 at Truist Financial

Polaris (NYSE:PII) had its price target dropped by stock analysts at Truist Financial from $96.00 to $92.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price would suggest a potential upside of 6.43% from the company’s previous close.

Several other research firms also recently issued reports on PII. Longbow Research raised shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Monday, April 8th. DA Davidson reissued a “neutral” rating and issued a $80.00 price target on shares of Polaris in a research report on Tuesday, March 5th. Royal Bank of Canada raised their price objective on Polaris from $100.00 to $103.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. BMO Capital Markets dropped their price objective on Polaris from $100.00 to $95.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 31st. Finally, Robert W. Baird dropped their price objective on Polaris from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $102.09.

Polaris Stock Performance

Shares of PII stock opened at $86.44 on Wednesday. The firm has a 50 day moving average of $92.93 and a 200-day moving average of $91.69. Polaris has a 52 week low of $82.00 and a 52 week high of $138.49. The company has a quick ratio of 0.46, a current ratio of 1.39 and a debt-to-equity ratio of 1.31. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 2.39 and a beta of 1.60.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.17. Polaris had a net margin of 5.63% and a return on equity of 40.98%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the firm posted $2.05 EPS. Polaris’s revenue was down 20.3% compared to the same quarter last year. On average, equities analysts forecast that Polaris will post 7.97 earnings per share for the current year.

Institutional Investors Weigh In On Polaris

A number of hedge funds have recently made changes to their positions in PII. Creekmur Asset Management LLC bought a new stake in Polaris in the 4th quarter valued at about $27,000. BKM Wealth Management LLC bought a new stake in Polaris in the 4th quarter valued at about $31,000. First United Bank & Trust bought a new stake in Polaris in the 4th quarter valued at about $40,000. Larson Financial Group LLC raised its stake in Polaris by 536.5% in the 3rd quarter. Larson Financial Group LLC now owns 401 shares of the company’s stock valued at $42,000 after acquiring an additional 338 shares during the period. Finally, Orion Capital Management LLC bought a new stake in Polaris in the 3rd quarter valued at about $46,000. 88.06% of the stock is currently owned by institutional investors.

Polaris Company Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.